As of the end of March, the New Jersey Republican State Committee was just under $525,000 in debt, largely due to legal expenses remaining from the Bridgegate scandal.

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The New Jersey Democratic State Committee was in better financial shape, but that's not saying much. It has a little over $106,000 in debt for campaign mailers and printing leading up to last year’s Assembly elections. Both debt totals have changed little from end of 2015.

In all, the two parties, along with New Jersey’s four Democratic and Republican legislative leadership committees — the state’s “Big Six” political committees — have the third-lowest amount of money in the bank they’ve had since 2007.

ELEC exective director Jeff Brindle said parties are depleted in part because of last year's Assembly election.&

“But the latest numbers also offer further evidence that longer-term trends are making it harder for the party committees to raise money,” he said. “For instance, the parties combined reported $5.4 million in reserves at the same point in 2007. That’s five times the current cash-on-hand.”

Even years are always lower for fundraising among New Jersey’s Big Six Committees, since state offices are only up for election during even years. And they actually have more money this year than in 2012 and 2014. But in 2010, they had nearly $1.5 million.

Brindle said many contributors have decided it’s easier to avoid the state’s myriad pay-to-play laws that severely restrict contributions from public contractors in favor of cutting checks to super PACs and other independent expenditure committees.

So far, allies of four potential candidates for governor — Democrats Steve Fulop, Phil Murphy, Stephen Sweeney, and Republican Kim Guadagno — have set up some form of independent expenditure committee or social welfare organization that helps them promote their messages.

For years, Brindle has advocated overhauling the state’s pay-to-play laws to increase contribution limits for contractors and reduce confusion caused by a maze of local laws. Brindle hopes that would benefit political parties, which because of strict state reporting requirements are often more transparent than outside groups.

“We are working right now with members of both parties on legislation that could strengthen the finances of party committees, which are more accountable and transparent than many of the independent groups that now dominate state elections,” Brindle said.

The committee with the most cash on hand is Senate Republican Majority, with $421,00 in the bank. It’s followed by Senate Democratic Majority, with $207,000.

The Republican State Committee does have $154,611 in the bank, which after its debt is subtracted makes its net worth negative $369,986. The Democratic State Committee has just $46,715 in the bank, making its net worth negative $59,571.

Assembly Republican Victory, which just lost four seats in November, has $142,803 on hand. The Democratic Assembly Campaign Committee has $122,266.